(From a Drawing by Gravelot engraved by W. J. White.)Mackintosh, who was a young lawyer of excellent education, but yet entirely unknown, this year published his "Vindici? Gallic?," in reply to Burke; but he did it with the behaviour of a gentleman, and evident admiration of the genius and political services of the great man whom he opposed. His book was immensely admired, and at once lifted him into notice. But it was not long before he began to see the correctness of Burke's views and prophecies as to the French Revolution, and he did not shrink from avowing the change of his sentiments in the Monthly Review and in conversation. His talents and this alteration of his views recommended him to the Ministers, and he was appointed by Pitt and Loughborough a professor of Lincoln's Inn, where, in a course of lectures on the Constitution of England, he exhibited himself as an uncompromising censor of the doctrines he had approved in his "Vindici? Gallic?." For this he was classed, by the vehement worshippers of French ideas, with Burke, as a venal turncoat. Mackintosh did not content himself with recanting his opinions on this topic from the platform and the press; he wrote directly to Burke, who was now fast sinking under his labours and his disappointments, and expressed his undisguised admiration of his sagacity as a politician, and of his general principles and political philosophy. Burke invited him down to Beaconsfield, where a closer view of the philosopher and orator greatly increased his esteem and admiration of the man."You might marry," Landor suggested. "You can always do that when all else fails."
The story of her origin was an open secret now. Landor had never been able to discover who had spread it. The probabilities were, however, that it had been Brewster. He had been suspended for a year after Landor's trial, and driven forth with contempt, but he was back again, with a bold front, and insinuating and toadying himself into public favor, destined by that Providence which sometimes arouses itself to reward and punish before the sight of all men, to be short-lived.Coming closer as it dropped lower, the amphibian circled in a tight swing over the fairway several times and finally straightened out, flying toward the wind that came from almost due North on this first cool day after a humid July week, and began to grow smaller to the watchers.The South Sea Company, with a folly of which extreme greed only is capable, endeavoured to put down these rival schemes and obtained an order from the Lords Justices and writs of scire facias against several of these new bubbles. It was like raising a wind to blow away the bubbles, forgetting that their own was a bubble too, and would go with them. The moment that the people began to distrust one they distrusted all. The panic became as great as the mania had been. The South Sea stock dropped in less than a month from one thousand to below six hundred. There was a simultaneous rush to sell out, and the shares must have sunk instantly to nil but for the gigantic exertions of the Company to raise money and buy in. The relief, however, was but temporary. The bankers and pawnbrokers who had advanced money on scrip broke and fled; merchants, goldsmiths, and speculators rushed away after them. Walpole was summoned in haste from Haughton to devise some means of staying the panic. He endeavoured to get the Bank of England to circulate three millions of South Sea bonds for a year; but the Bank, seeing that the case was desperate, declined it. This was decisive. The rage and despair of the swarming dupes were indescribable. They heaped[48] execrations not only on the South Sea Company, but on Ministers, the king, his mistresses, and the Royal Family, who had all been deep in the affair, and who had taken good care of themselves. George landed at Margate on the 9th of November, soon after which the South Sea stock fell to one hundred and thirty-five. On the 8th of December Parliament met, and promptly began to investigate the scandal.The struggle for ascendency proceeding, Walpole and his party secured the interest of the Duchess of Kendal, who always took care to side with that which she thought the stronger. Carteret and his party, on the other hand, secured the interest of the other mistress, the Countess of Darlington, and her sister, Madame de Platen. Whilst affairs were in this position, the two Secretaries of State, Townshend and Carteret, accompanied the king to Hanover. There came upon the tapis the question of a marriage between the Count St. Florentin, the son of La Vrillire, the Secretary of State for France, and a daughter of Madame de Platen. Madame de Platen, however, demanded that La Vrillire should be made a duke, so that in due course of time her daughter would be a duchess. George I. warmly seconded this demand; and, had Bolingbroke used his influence, there was little doubt that it would have been accomplished. But the French nobility raised a huge outcry against this honour being conferred on the family of La Vrillire, which they deemed too obscure for such a dignity. Bolingbroke, however, was seeking his own objects through the other mistress, the Duchess of Kendal; and, notwithstanding the repulse which he had received from Walpole, he still calculated that his power would prevail, and he therefore smothered his personal vexation, and remained on the side of the Duchess of Kendal and Walpole, leaving Carteret and his allies, the Platens, to fight their own battle.On the 31st of March Dundas introduced the Indian Budget, and soon afterwards Pitt congratulated the country on the fact that, so far from the American war having injured the trade or the power of Britain, the fact was that our shipping had increased considerably more than one-third since 1773, and we had been continually gaining strength even during the American war, and had relieved ourselves of a load of expense always incurred by the government of the States. This was an admirable argument for declaring all our colonies independent, if it meant anything; but Pitt went on seconding, and even surpassing Dundas in the prognostications of a long peace. What such ministerial speeches were worth was shown on the 5th of May, only a month and five days since the prophecy of Dundas, and not three weeks since his own prophecy, by Pitt announcing that the peace was already disturbed with Spain. It appeared that the high prices obtained by the crews of Captain Cook's ships, the Discovery and Resolution, at Canton, on his exploring voyages in the South Seas, for the ill-selected, half-worn furs brought from the north-west coast of America, had attracted the attention of adventurers under the direct protection of the East India Company. Mr. Mears, who had been a lieutenant in the royal navy, and a Mr. Tippin, were sent out in command each of a vessel. Tippin was wrecked on the coast of Kamtschatka; but Mears reached Prince William's Sound and wintered there, opening a good trade with the natives. In the spring of 1788 he discovered Nootka Sound, a fine bay on the west side of a small island on the west coast of Vancouver's Island. There he formed a settlement, making a bargain with the chief for it. He went to Canton with furs and was opening a fine trade, when the Spaniards came down on the settlement, seized four British vessels, but permitted two United States' vessels to remain unmolested. Part of the English crew were shipped in one of the American vessels to China, and the rest suffered to depart in one of their own ships after it had been plundered. The Spanish commander then settled himself in the new colony, and Spain set up a[372] general claim to all coasts and islands, and the whole Pacific as far as China.
